Replying to Avatar Kyle 🐆

Money can be defined as 3 things:

1. Store of Value

2. Unit of account

3. Medium of Exchange

Fiat is salable over space but not time.

Precious metals like gold are salable over time but not space.

#Bitcoin fulfills the 3 characteristics of Money and is salable over both time space.
Avatar
a source familiar with the matter 1y ago

What value is Bitcoin storing?

Reply to this note

Please Login to reply.

Discussion

Avatar
Kyle 🐆 1y ago

#Bitcoin has the ability to retain purchasing power over time due to its fixed supply. Fiat and gold do not have a capped supply, which is why their purchasing power dwindles over time, like an ice cube. Bitcoin supply is inelastic to demand, which is something we have never seen in history.

Prices are inflationary when denominated in fiat.

Prices are deflationary when denominated in #BTC.

Avatar
a source familiar with the matter 1y ago

All of your arguments are assuming that Bitcoin is already "money" and remains "money"

But why should that be the case?